All of Tel Aviv's leading stock indexes gained ground yesterday, albeit on turnover that stayed pita-thin at a billion shekels. The benchmark TA-25 index rose 1% to 1,133 points and the broader TA-100 index climbed 1.3% to 1,013 points. Indexes tracking niches and smaller-cap companies gained more: The TA-technology index and TA-BlueTech index (think "blue chips among technology companies" ) both gained more than 1.7%. Corporate bonds were also in fashion.
Among the most active stocks were Teva Pharmaceutical Industries, which gained 1% on turnover of NIS 91 million, and Bank Hapoalim, which climbed 2.2% on turnover of NIS 80 million after announcing the highest profits in the Israeli banking system: NIS 712 million for the second quarter. Israel Chemicals was third on the liveliest list with a gain of 1.1% on turnover of NIS 80 million.
Bank Leumi on the other hand lost 0.8% on turnover of NIS 74 million after admitting that quarterly profit had dropped 18%, not because of problems at the bank but because its results a year earlier had been boosted by nonrecurring income. So it goes.
Elbit Imaging stock jumped 3.2% even though the company reported that revenues sank 57% year over year to NIS 240 million. If, however, nonrecurring income of NIS 397 million last year from acquiring the controlling interest in EDT is discounted, revenues increased 37%. Net loss attributable to shareholders came to NIS 30 million. A year earlier the company had posted a net profit of NIS 226 million. Perhaps investors thought the figures would be worse.
Among the few losers on the TA-25 index yesterday was the phone company Bezeq, shares of which sank 0.7%, and oil exploration partnership Avner, which also lost 0.7%.
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